Emerging markets are full of opportunity for the clever entrepreneur. Across Africa, Asia and South America are countries with millions of undeserved consumers. These people may be living on very little, but their basic needs are similar to those of wealthier people in more developed countries.
In their paper, The Fortune at the Bottom of the Pyramid, C.K Prahalad and Stuart L. Hart explain that “low-income markets present a prodigious opportunity for the world’s wealthiest companies to seek their fortunes and bring prosperity to the poor.” This opportunity exists for any company, whether it’s wealthy or not.
Designing for emerging markets, specifically those in Africa, requires an inquiring mind, the determination to question every assumption, and both the confidence and humility to engage with the right partners. Read more. Source | Ventures Africa